Venture capital (VC) and private equity (PE) investment in clean technology in China surged 120% year-on-year to US$1.3 billion in 2008 despite the economic crisis, state media reported, citing a report released by research firm Zero2IPO on Tuesday. Domestic and overseas VC and PE companies in 2008 invested in 55 deals in clean technology, up 175% from 2007. Between 2006 and 2008, VC and PE companies raised capital worth $2.36 billion for clean technology investments, 60% of which was in solar power. Water treatment was another significant investment target, garnering $287 million in 12 deals.
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